For $11.995 million, the futuristic and somewhat notorious Los Angeles mansion that was constructed in the 1970s for the late NBA player Wilt Chamberlain is back on the market.

This week, the five-bedroom, eight-bathroom mansion was relisted at a lower price than its original mid-2018 listing of $18.999 million, according to Bobby Syed, the listing agent for Coldwell Banker Realty.

Mr. Syed has witnessed the home’s evolution from a racy party house custom designed for the basketball player to a modernised family home with fruit trees and a vegetable garden over the years. According to property records, he was involved in the home’s most recent sale, when screenwriters George Meyer (of “The Simpsons” fame) and Maria Semple (who’s won accolades for the series “Mad About You” and “Arrested Development,” among others), sold it to the current owners in 2008 for $6.555 million.

The geometric, modernist-style home was designed by architect David Rich for the basketball Hall of Famer, who played for 14 years from the late 1950s to the early 1970s before dying in 1999 at the age of 63. The building is constructed of steel, wood, and stone.

The underlying land in Bel Air was formerly owned by the US government and served as a missile silo. Mr. Syed claimed that Chamberlain saw the isolated spot from above while riding in a helicopter and made the decision to construct a house there.

The property’s stunning main living area, which is four to five stories high and requires “very high-end equipment” to replace the heating and cooling systems, is housed within the steeply pitched, asymmetrical facade, according to Mr. Syed.

Chamberlain was over 7 feet tall, and one of the most practical improvements he made after taking over was to lower all of the bathroom and kitchen worktops to normal height.

“The bathroom sinks, the kitchen counters—all of those were super high,” recalled Mr Syed. “The countertops would come down to a normal person’s chest.”

He went on, “Now everything is modernized.” The property has been refurbished from Chamberlain’s original crazy playhouse over the course of more than ten years, and Mr. Syed stated that the sellers, a couple of young business professionals, have gradually lowered the price over the years and are now serious about selling.

He further claimed that the owners had raised the bottom of a very deep pool and hot tub.

The basketball player was well-known off the court as well as on it, and he often boasted about his sex life. Chamberlain planned the mansion with entertainment in mind, whether or not his stories were true. The owners took out an underwater passthrough from the enormous pool directly into what is now the dining room, as well as a stairway that led straight from the garage to the bedroom.

“You could swim right under and into the house,” Mr. Syed explained.

They also removed the primary suite’s large retractable sunroof and hot tub, as well as a bedroom encased by one-way glass that Chamberlain jokingly dubbed the “boom boom room.”

In contrast, the owners have built out a route through the woods and added far more mundane amenities such as a vegetable garden and fruit trees.

“It’s all changed now,” remarked Mr. Syed.

The building, influenced by Frank Lloyd Wright, remains mostly intact, as does the quiet, hilltop setting. Mr. Syed said he could see all the way to SoFi stadium in Englewood, some 17 miles away, on a clear day this week.

He claims that the new price is far more in line with the current Los Angeles market. According to Mr. Syed, the seller is also willing to provide finance to the buyer on the correct terms.

“They were at a very ambitious price at first,” he explained. “I’ve positioned the price right in line with the marketplace.”